Ethereum Selloff Deepens – Whales Treat It As A Buying Feast

Ethereum (ETH) just printed one of its most counterintuitive signals of the year: price is bleeding lower, sentiment is wrecked, yet a hidden bullish pattern and a swarm of whales buying it both point to a potential 75% rebound back to all-time highs (ATHs).

On the surface, the chart for the largest altcoin in the world does not look friendly. Ethereum has been grinding down for weeks, revisiting a long-term ascending support line that has carried the entire bull market.

But as price tapped that trendline again, the expert flagged something you don’t often see at the bottom of a dump: a “Hidden Bull” structure on the daily chart that targets a full recovery to the prior peak at $4,958.75, according to the analysis by market analyst Javon Marks in an X post on November 24.

In his setup, ETH price keeps making higher lows against that rising blue trendline, while the relative strength index (RSI) at the bottom of the chart carves out higher lows of its own after a brutal oversold streak. 

That combination suggests sellers are losing strength even as the chart still looks ugly to anyone glancing at it on their phone. But placed in the middle of a fear-driven market, it’s exactly the kind of pattern that dares traders to fade their own emotions.

Whales Are Loading Up on ETH as Retail Capitulates

Meanwhile, technical patterns are only part of the story. On-chain and derivatives data shows that some of the deepest pockets in crypto are quietly betting Javon’s target might not be as crazy as it sounds.

On Hyperliquid, tracking account 0x8d0e, on-chain analytics platform Lookonchain spotted a whale who didn’t just nibble the dip – they slammed the buy button. The address scooped up 4,022 ETH spot worth about $11.19 million, then opened a 20x long on another 2,034.5 ETH, roughly $5.66 million in exposure.

That’s not a casual trade. With 20x leverage, a move in the wrong direction can wipe out millions in minutes. It’s the kind of aggressive positioning you only take if you believe support is going to hold and price is closer to the bottom than the top.

On-chain transfer data adds another layer. Wallet trackers show fresh inflows of over 4,000 ETH into the whale’s address from Hyperunit’s hot wallet in just a few hours, suggesting a deliberate, staged build-up rather than a one-off punt. Each transfer represents another vote of confidence that the current price zone is worth the risk.

Institutional money is following a similar playbook. Lookonchain reports that Tom Lee’s Bitmine, associated with Fundstrat’s well-known strategist, just bought another 28,625 ETH – about $82.11 million – in a single shot. The transfer came from FalconX’s hot wallet, one of the major institutional trading venues, and landed in Bitmine’s address.

Ethereum’s Chart Shows Hidden Strength Beneath the Selloff

Currently, ETH is trading at $2,797.50, down 0.67% on the day, losing 13.07% in the past week, and accumulating a dip of 29.07% in the last month, according to the most recent price chart information.

Taken together, the technical picture and the whale flow tell a story of Ethereum sitting on a long-term support line, showing hidden bullish divergence on daily timeframes, while both aggressive whales and institutional desks quietly increase their exposure.

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